UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 13, 2007
OCCIDENTAL PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
1-9210 |
95-4035997 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
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10889 Wilshire Boulevard Los Angeles, California |
90024 |
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(Address of principal executive offices) |
(ZIP code) |
Registrant’s telephone number, including area code:
(310) 208-8800
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 5 – Corporate Governance and Management
Item 5.02(c). Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On December 13, 2007, the Board of Directors of Occidental Petroleum Corporation (“Occidental”) elected Stephen I. Chazen, 61, to the position of President and Chief Financial Officer, effective immediately. Mr. Chazen has been the Chief Financial Officer of the Company since 1999. Dr Ray R. Irani remains Chairman and Chief Executive Officer of Occidental.
Mr. Chazen’s annual base salary was increased to $800,000 effective January 1, 2008.
Occidental’s press release announcing Mr. Chazen’s election is attached hereto as Exhibit 99.1 and is incorporated into this Item 5.02 by reference.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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99.1 |
Press release dated December 13, 2007. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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OCCIDENTAL PETROLEUM CORPORATION |
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(Registrant) | |
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DATE: December 14, 2007 |
/s/ DONALD P. DE BRIER |
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Donald P. de Brier, Executive Vice President, General Counsel and Secretary |
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EXHIBIT INDEX
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99.1 |
Press release dated December 13, 2007. |
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
OCCIDENTAL ELECTS STEPHEN I. CHAZEN PRESIDENT AND
CHIEF FINANCIAL OFFICER
LOS ANGELES, December 13, 2007 – Dr. Ray R. Irani, Chairman and Chief Executive Officer of Occidental Petroleum Corporation (NYSE:OXY), announced today that the Board of Directors has elected Stephen I. Chazen as President and Chief Financial Officer.
Commenting on the appointment, Dr. Irani said, "In addition to his role as Chief Financial Officer, Mr. Chazen has been responsible for implementing Occidental's overall strategy, and has overseen corporate development, oil and gas marketing, and chemicals. He will continue to do so, and will now also be responsible for oil and gas exploration. His combination of experience in financial matters and oil and gas and chemicals operations will help us create additional value for our stockholders."
Mr. Chazen, 61, joined Occidental in 1994 as Executive Vice President – Corporate Development. He was named Chief Financial Officer in 1999. Prior to joining Occidental, Mr. Chazen was a managing director in the investment banking group of Merrill Lynch & Co.
About Oxy
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy's wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company's worldwide operations.
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Contacts: |
Richard S. Kline (media) |
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(310) 443-6249 |
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Richard_Kline@oxy.com |
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Chris Stavros (investors) |
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212-603-8184 |
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Chris_Stavros@oxy.com |
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On the web: www.oxy.com |